Dane Buchanan’s Post

Understanding attribution is key to unlocking success in your marketing mix. If you're a hands on learner like myself, take a look at this interactive article to get a better understanding of attribution modeling. https://lnkd.in/gvZN9uxQ

How to measure your marketing - hint …. dont use just one method or metric. In video game marketing, measuring impact is not just a necessity; it's the key to staying ahead in a rapidly evolving landscape. Here are three tools that teams that I have worked with used to bring you closer to proving marketing success: 1. Player-Centric Marketing Mix Modeling (PC-MMM): Embrace the power of econometric principles and linear regression models tailored to the gaming universe with Player-Centric Marketing Mix Modeling. While it requires patience (and a talented analyst/data scientist), this method isolates and analyzes each marketing tactic against key gaming variables. Best used for the long game, PC-MMM offers comprehensive insights into the sustained impact of your marketing strategies. 2. Holistic Attribution in Gaming: Move beyond traditional last-touch attribution and dive into a more comprehensive understanding of the gamer's journey. While multi-touch attribution is a step in the right direction, it still might miss crucial steps leading to conversion. While IDFA depreciation has made this harder a holistic attribution process can still provide day-to-day insights, offering a nuanced perspective on how your conversion spend is performing. 3. Gaming Experimentation for Real-Time Insights: For Free-to-Play (F2P) games heavily reliant on live operations, experimentation becomes a game-changer. If you have the budget and time, running experiments can swiftly answer questions stemming from your MMM analysis or direct attribution data. It's the dynamic tool you need to adapt and evolve in real-time. Strategic Approach: Blend for Success Use Player-Centric Marketing Mix Modeling for the long game, holistic attribution for day-to-day precision, and experiments to address emerging questions. In the gaming universe, a blended approach is the winning strategy. Resist the urge to succumb to a single metric; instead, champion a comprehensive measurement approach. Educate your teams on evaluating marketing spends strategically. #GamingMarketing #MeasureSuccess

trackable versus untrackable....you might be cutting back on a important part of the buyers journey.

Accurate attribution is crucial for successful marketing. If you're only focusing on the last touchpoint and ignoring the bigger picture, you could find yourself in a situation like this. When fewer conversions are attributed to paid channels and non-brand campaigns, it can lead to the misconception that ads aren't performing well. This often results in budget misallocation and missed opportunities, leading to a lower ROI and revenue losses. Accurate attribution empowers smarter, data-informed decisions that result in more high-quality leads that convert into paying customers. At Elly Analytics, we map the entire customer journey and use advanced attribution models tailored to your business and marketing mix. We improve attribution accuracy, reducing the percentage of leads misattributed to Email, Organic Search, Direct channels, and Branded Search campaigns from 30% to 10% (on average). Get a clear picture of your real marketing performance and start making data-driven decisions that drive business growth with Elly Analytics💛

What is Marketing Attribution? I recently wrote an in-depth explanation about what this means for marketers on my blog at Seeking Perfection Marketing. Surprisingly, most people aren’t utilising this process to its full potential. With methods like first-touch and last-touch, understanding marketing attribution is crucial for digital strategy delivery and understanding what influences the customer journey. When you understand this information, you can improve your campaigns, increase your ROI, and more. You can find the blog here: https://bit.ly/4b8JAgv #MarketingAttribution #Marketing #CustomerJourney

Simple guide to get Marketing Mix Modeling. Imagine you're trying to figure out which media channel is really helping to increase your sales. Usually, companies try to track which ad leads to which sale through digital attributions. But due to privacy laws and other restrictions, it's becoming really hard to follow every customer's journey and know for sure which ad made them buy something. This isn't just a problem with the math or the technology we use. The real issue is that we're not able to collect as much detailed information about each customer as we used to because of REGULATIONS. That's why we need to find a solution that doesn’t rely on this user specific informations. MMM is one of the solutions to this problem. MMM looks at your marketing spending as a whole. It tries to figure out how changes in your spending – say, putting more money into Facebook or Google ads – changes your total sales. Here's a simple way to think about it: If you suddenly start spending a lot more on Facebook ads, MMM helps you understand whether this leads to an increase in your overall sales. If your sales go up significantly after spending more, MMM tells you that this increase is likely because of the extra money you put into Facebook ads. This increase in sales is what we call the 'incremental contribution' of your increased spending. MMM does this for every part of your marketing – online ads, TV commercials, billboards, and so on – and it looks at all the data you have over time. This way, it helps you understand which parts of your marketing are really making a difference in increasing your sales. MMM doesn’t track users and knows where each sales came from. MMM measures changes in your spend vs your aggregate sales and from this derives the incremental contribution of a Marketing factor. If you are spending in more than two marketing channels and your investments volumes are bigger than 30k€/month, MMM might be helpful.

2 much better high-level alternatives you should have started measuring a lifetime ago instead of in-platform ROAS: • MER • Marketing Efficiency Ratio is the efficiency of your marketing in regards to your top-line revenue. If I spend $3 on marketing, and I get $10 in sales, that's a 30% MER. The smaller the percentage, the better. If the percentage is smaller (i.e. 10%) that means I'm only having to spend $1 to achieve the same amount of top line revenue. This leaves more $ on the table for other things like COGS and Operating Expenses (OpEx). • Contribution Margin • Contribution Margin is like Gross Margin, but also deducts your variable costs on a per order basis. There's contribution margin before marketing costs, and after. Regardless, here's a simple example: If I have $100 in revenue, and I sell a product at 70% margin, that means that I have $70 left over after my COGS. Once I subtract other offsets to that revenue, like payment processing, shipping, and other related expenses tied to a product's variable cost, I'm left with a lesser amount. Let's say those expenses are $20, and I'm left with $50. Let's also say that I spent $15 to acquire that customer that brought in $100 in revenue. Pre-Marketing Contribution Margin: 50% ($50 / $100) Post-Marketing Contribution Margin: 35% ($35 / $100) Contribution margin is the margin leftover to put towards the business itself, or reinvest it back into marketing. Businesses have inevitable Operational Expenses (OpEx) they need to cover outside of variable costs, which is why this is so important. Many D2C businesses avoid these very basic calculations (on a much larger scale) because they're busy trying to measure direct feedback from ad efforts, and looking at fake in-platform results data. Are you still chasing after the lie of in platform ad attribution?

🔍 Diving into Marketing Attribution Models! 📊 Have you ever wondered how businesses measure the success of their marketing efforts? Marketing attribution models are the secret sauce that helps unravel this mystery by identifying the most effective channels and tactics. Let's explore some key points: 🎯 **What is Marketing Attribution?** It's about giving credit where it's due - understanding which marketing touchpoints lead to conversions. It's like a detective trail for marketers to track their wins! 🔎 **Delving into Attribution Models:** From first-touch to data-driven, there are various models to assign credit to touchpoints along a customer's journey. Each model has its strengths, catering to different business needs and goals. 🌟 **Multi-touch Models:** Linear attribution spreads the love equally among touchpoints, while time decay gives more weight to recent interactions. Position-based attribution highlights the importance of the first and last interactions, revealing valuable insights. 💡 **Why Does Attribution Matter?** It's the compass guiding marketers in the vast sea of data, helping businesses optimize their strategies, improve ROI, and enhance the overall customer experience. 🔄 **Tracking Methods:** Ever heard of cookie-based tracking, URL parameters, pixel tracking, or device fingerprinting? These tools are the masterminds behind data collection for marketing attribution, paving the way for smarter decision-making. 🤔 Curious to hear your thoughts! How do you think businesses can leverage marketing attribution to boost their marketing strategies? Share your insights! https://lnkd.in/gyQqEDSm

TechTarget has just published their list of the "10 marketing trends to watch for in 2024." How many of these technologies are you already using or plan to incorporate into your marketing campaigns this year? https://lnkd.in/gCqxwEiz #marketing #marketingtrends

How should companies allocate their marketing budget to maximize their expected revenue? Over the last few months together with acmetric, I've taken a deep dive into Marketing-Mix Modelling (MMM) to answer this question. We compared Meta's in-house developed MMM package Robyn to a custom State Space Model to identify which tool more effectively optimizes marketing budgets.   We conducted extensive simulation studies and applied both models to real marketing data provided by a prominent South American airline. The findings? Our custom State Space Model consistently outperformed Robyn, demonstrating superior efficacy in marketing budget optimization.   Keen to get the full story on Robyn, including its capabilities and shortcomings? Check out the blog post detailing how we evaluated its budget optimization capabilities: https://lnkd.in/eGYt_ugx   Next up we will be putting Uber's Orbit and Google's Light Weight MMM packages to the test.